National Gypsum has secured its financing.

The Dallas home building products firm, target of a tender offer by Wickes Cos., said it has commitments for all of the financing for the leveraged buy-out by a group led by its management. Stockholders are scheduled to vote on the buy-out today. Separately, Standard & Poor’s said it lowered the rating on National Gypsum’s industrial revenue bonds to B+ from BB-. The rating on the company’s proposed $1 billion of subordinated discount debentures was lowered to B- from B.